Fraser joined Fieldcrest Mills, Inc. in 1970 as vice president finance and treasurer. In 1977 he was named senior vice president of Fieldcrest Cannon, Inc. While he will maintain his position as chief financial officer, the major part of his time will be devoted to the blanket division. To assume responsibility for the financial functions which now report to Fraser, Thomas R. Staab, controller, is promoted to vice president finance, Fieldcrest Cannon, Inc. and C.D. "Cliff" Paulsen becomes controller.
According to Horn, "We reviewed our decision to continue manufacturing blankets and in doing so decided that to make it a vital and efficient operation it should be a separate division with its own organization. Bill Fraser is a seasoned executive with a background that gives us total understanding of the business and excellent leadership and organizational skills." Reporting to Fraser are Brian Ashley, division vice president blanket marketing; Ed Spivey, division vice president blanket manufacturing; and Tony Aiello, director blanket design.
Fraser holds a BME from Cornell University and MBA from New York University. Said Fraser, "I look forward to this challenge and feel highly optimistic that with this team we will improve our financial performance in the blanket business. We have committed substantial capital funds to modernize our manufacturing facilities and plan to offer innovative products to fulfill the fundamental needs of today's consumers. We have the brand names, the manufacturing capabilities and design expertise that our customers have known and trusted. Now, as a separated division, we can better service both our customers and the end consumer."
Fraser resides in Greensboro, N.C., with his wife, Susan.
-0- 6/24/92
/CONTACT: Alice Shnapier of Fieldcrest Cannon, 212-957-3303/
(FLD) CO: Fieldcrest Cannon, Inc. ST: North Carolina IN: TEX SU: PER

TQ-LR -- NY046 -- 3344 06/24/92 14:02 EDT

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